South Korean Firms Pause Middle East Operations Amid Rising Regional Tensions MIDDLE EAST: Major South Korean companies, including Samsung Electronics, Hyundai Motor Company and LG Electronics, have temporarily suspended parts of their operations in the Middle East as security concerns escalate following tensions involving the United States, Israel and Iran. The companies have prioritised employee safety by halting on-ground business activities in some areas and implementing

Rising Middle East Conflict Impacts Shipping, Oil Prices, and International Trade MIDDLE EAST: Rising geopolitical tensions and policy changes are creating fresh uncertainty in global trade. Escalation in the Middle East following US and Israeli strikes on Iran pushed oil and gas prices higher, with Brent crude briefly exceeding $82 per barrel. The situation has disrupted shipping through the Strait of Hormuz, a route carrying around 20% of global oil and LNG, while attacks a

LG logo SAUDI ARABIA: LG Electronics is fast-tracking its growth strategy in key high-potential markets, with Saudi Arabia, India, and Brazil identified as major drivers of its medium- to long-term expansion. The company plans to double its combined revenue from these three countries by 2030 by introducing localized products, strengthening regional manufacturing, and adopting market-specific strategies.  Last year, revenue from these markets reached KRW 6.2 trillion (US$4.2 b

Ariston Group Expands Solar Collector Production in Israel Israel: Ariston Group has announced the expansion of its solar collector production activities in Israel. The company entered the Israeli market in 2017 and has continued to develop its presence in the country. In 2022, Ariston Group strengthened its position in Israel through the acquisition of Chromagen. The current expansion forms part of its ongoing operations in the local market. Amir Raska, CEO of Chromagen: "We

RAK Ceramics Selects SAP For Enterprise-wide Digital Transformation UAE: RAK Ceramics has selected SAP SE to implement an enterprise-wide digital transformation programme through the adoption of RISE with SAP. The initiative is intended to integrate end-to-end processes across the company’s 55 entities and establish a unified cloud platform supporting operations in more than 150 countries. The programme will consolidate multiple systems onto a core cloud platform based on SAP

Bathroom UAE: RAK Ceramics reported strong margin performance and solid profit growth in Q4 and FY 2025, despite challenging conditions in some international markets. Growth was largely driven by robust activity in the UAE’s real estate and construction sectors, along with a higher contribution from premium products and project-based sales. In Q4 2025, revenue declined slightly by 1.7% year-on-year, while full-year revenue increased by 1.6%. Gross profit margins improved to 3

RAK Ceramics Reports Higher Margins and Profit Growth in Q4 & FY 2025 UAE: RAK Ceramics delivered strong margin expansion and bottom-line growth in Q4 and FY 2025 despite market headwinds, supported by robust UAE real estate and construction activity and higher-margin project and premium product segments. Q4 2025 revenue declined 1.7% YoY to USD 233.2 million, while FY 2025 revenue rose 1.6% YoY to USD 893.1 million; gross profit margins improved to 39.1% in Q4 (vs 37.2%) and

Middle East Construction Costs to Rise 4% in Saudi Arabia and 3% in UAE in 2026 Saudi Arabia/UAE: Construction costs across the Middle East are set to increase in 2026, rising around 4% in Saudi Arabia and 3% in the UAE. In Saudi Arabia, activity will continue under Vision 2030 despite some project rephasing, with 4% cost escalation driven by imported and specialist materials, strong demand for Tier 1 and Tier 2 contractors, and skilled labour shortages; data centres and digi

Hassan Allam Launches USD 880 Million Noor Khuzam Residential Project in North Riyadh Saudi Arabia: Egypt’s Hassan Allam Holding has announced the launch of the USD 880 million Noor Khuzam integrated residential project in North Riyadh, spanning 228,000 square metres. The 3,018-unit development will be undertaken by its subsidiary Grova Developments in partnership with Tilal Real Estate and National Housing Company (NHC). The project features open green spaces, shared dining

Kuwait Draft Budget Sets Higher Capital Spending and Wider Deficit Kuwait: Kuwait’s Ministry of Finance has projected capital spending of around KWD 3.1 billion (USD 10.0 billion/EUR 9.2 billion) in the draft budget for the 2026–2027 fiscal year. The ministry said most capital allocations are expected to be directed towards airport expansion, the Mubarak Al-Kabeer port, and water and power projects. The draft budget forecasts a deficit of around KWD 9.8 billion (USD 32.0 bill

Showroom ABU DHABI: Hansgrohe Group, a global leader in premium bathroom and kitchen solutions, has officially inaugurated a new showroom on Najda Street in Abu Dhabi in partnership with Mac Al Gurg, a leading sanitaryware solutions provider and part of the Al Gurg Group. The showroom showcases an extensive portfolio of hansgrohe and AXOR faucets and shower systems, complemented by high-end sanitary ceramics, offering architects, designers, and homeowners an immersive, end-to

Hassan Allam Properties Egypt: Hassan Allam Properties plans to execute new projects worth US$ 296 million in 2026 and will introduce a hospitality brand to manage its expanding hotel portfolio. The company is diversifying beyond residential developments into hospitality, sports, and education through partnerships with local and international entities. Four hotels with a combined capacity of around 700 rooms are under development in New Cairo, 6th of October City, and the Nor

Aldar to Add 3,000 Homes to Abu Dhabi Market Amid Strong Demand UAE: Aldar Properties will begin construction of nearly 3,000 new homes in Abu Dhabi this year, responding to rising residential demand. The developments, with a combined gross development value of AED 23 billion (USD 6.26 billion), will be built on 2.3 million square metres of newly acquired land across Saadiyat Island and Yas Island, Aldar said in a filing to the Abu Dhabi Securities Exchange.   Saadiyat plots

Oman and Saudi Fund for Development Sign MoU for Thumrait Industrial City OMAN: Oman’s Ministry of Finance and the Saudi Fund for Development have signed a memorandum of understanding to finance the construction of Thumrait Industrial City in Dhofar Governorate, with Saudi funding of USD 40 million. The agreement was signed in Muscat by Sultan Salim Al Habsi and Sultan bin Abdulrahman Al Marshad. The project will establish an integrated industrial city with roads, utilities,

Nigeria and Saudi Arabia Discuss Housing and Construction Cooperation Nigeria/Saudi Arabia: Nigeria and Saudi Arabia have held discussions to expand bilateral cooperation in housing development, construction technology and local building materials manufacturing, during meetings on the sidelines of the 2026 Real Estate Future Forum in Riyadh. Nigeria’s Minister of Housing and Urban Development, Ahmed Musa Dangiwa, met with Saudi Arabia’s Minister of Municipal and Rural Affairs

Handshake UAE: Azizi Developments, one of the UAE’s leading private real estate developers, has extended its collaboration with Daikin to supply comprehensive HVAC systems for Burj Azizi, set to become the world’s second-tallest tower. The agreement includes the provision of cooling and air-conditioning solutions across the project’s residential, hospitality, retail, and entertainment components, ensuring long-term indoor comfort and reliable system performance. The scope cov

Handshake UAE: Khansaheb Group has established itself as one of the region’s leading construction and engineering conglomerates, with a legacy of shaping the UAE’s built environment and a forward-looking vision for sustainable growth. Leveraging its scale, expertise, and diverse capabilities, the group has recently acquired ANABEEB from EMSTEEL Building Materials PJSC (ADX: EMSTEEL), a prominent infrastructure company specialising in end-to-end PVC and GRP industrial pipe man

District UAE: Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Tuesday launched a AED 100 billion ($27.23 billion) mega project to expand the Dubai International Financial Centre (DIFC) with the creation of the DIFC Zabeel District. According to the Dubai Government Media Office, the new district represents the region’s largest demand-driven expansion of a financial centre, covering 7.1 million sq. ft. of land with a t

Saudi Arabia Construction Sector Saudi Arabia: Construction costs in Saudi Arabia continued to rise at a steady pace in December 2025, with the Construction Cost Index increasing 1.1% year on year for the second consecutive month, supported by stable prices for materials and equipment rentals. The index stood at 101.8 points in December, unchanged from November monthly, according to data released by General Authority for Statistics. The stable trend comes as the Kingdom advan

Oman Oman: Operations have commenced at a new air conditioning manufacturing plant in the Salalah Free Zone, according to an announcement made in January 2026. The facility, owned by Engineering Industries Company, represents an investment of US$ 12 million and has an annual production capacity of around 70,000 air conditioning units. The project operates under an industrial license within the engineering and electronics category and will supply products to the domestic marke